Brixton aiming for REIT status

Brixton could be among the first property groups to convert into a real
estate investment trust (REIT).

Announcing its year end prelims, the group said it had welcomed the REIT
proposals put forward in last week’s Budget, and would ‘look forward’ to
reviewing the details included in the upcoming finance bill.

A REIT is a quoted property vehicle that pays out 90% of its income to
shareholders in return for not paying any corporation tax.